AXA cuts dividend, '02 income up 82 percent.

French insurer AXA
AXA, -0.53%CS, -0.31%
slashed its dividend per share to 34 eurocents per share from 56 eurocents per share. Its 2002 underlying earnings increased 10 percent to 1.69 billion euros, while its new business for 2002 was 615 million euros, down 8 percent. Net income increased 82 percent to 950 million euros. "Our strategy remains unchanged as we continue to focus on one business - financial protection and wealth management - and as we will pursue our operational efforts," said Group CEO Henri de Castries.

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